The IDB (Banco Interamericano de Desarrollo) will provide a four million dollar support to Uruguay to be used in the financial regulation and supervision of the country.
One objective is to strengthen the role of Banco Central del Uruguay (BCU) Superintendence of Financial Services, which oversees banks, insurance companies, stockbrokers and fund managers Interim Savings.
The funds [...]

Uruguay is one of the twelve Latin American countries participating since yesterday in Seoul Forum. The aim of the forum is to increase the cooperation among South Korea, Latin America and the Caribbean.
Álvaro García, Uruguayan Minister of Economy, was at the event and confirmed his support to a Free Trade Agreement (TLC in Spanish) between [...]

BUENOS AIRES (Dow Jones)–The International Monetary Fund on Wednesday concluded its annual “Article IV” review of Uruguay and praised the country for policies that it said reduced Uruguay’s exposure to the global financial crisis.
The review is part of an agreement between the IMF and member countries in which IMF teams visit countries, collect data and [...]

A total of 33 vessels and 194 calls are anticipated for this summer according to Uruguayan authorities.
However the big news this season is that the international Atlantic sea resort Punta del Este expects 113 calls compared to the 81 for Montevideo. This can be explained because three cruise operators, MSC (Mediterranean Shipping Co), Costa Cruceros [...]

Uruguay and Russia last week held a new consultation meeting in Moscow between their respective foreign ministries to make a development of bilateral relations and assess investment alternatives in the future for the country.
In that sense, the Russian government expressed interest in investing in the rail industry, aeronautics and automotive, as in the exploration of [...]

BUENOS AIRES (Dow Jones)–Uruguay’s consumer price index was virtually unchanged in October from the previous month, marking an easing after steadily rising prices over the past year.
In October, the CPI slipped 0.01%, bringing the gain over the past 12 months to 6.53%. The index has risen 5.35% so far this year.
In October, the steepest price [...]

An investment bank will be set up in Uruguay, through the combined efforts of the Bank of the Republic of Uruguay and the support of Brazil, Chile and the Inter-American Development Bank.
The consultancy services hired by the Brou will have been completed by the beginning of 2010. It is yet to be determined whether said [...]

Mexican José Alberto Garibaldi, international advisor on clean energy praised Uruguay’s vision on environmental issues. As Garibaldi points out, Uruguay is proof that domestic measures may be taken towards mitigation, starting from which further measures may be aimed at together with other countries with which we share common interests. Through a document submitted at the [...]

The Inter-American Development Bank will host the VII Inter-American Conference on Corporate Social Responsibility (CSR) in Punta del Este, Uruguay, from December 1 to December 3, 2009.
The event, organized by the IDB’s Multilateral Investment Fund (MIF), the Government of Uruguay and DERES, the Uruguayan association of businesses active in corporate social responsibility, has been titled [...]

MONTEVIDEO, Uruguay, Nov 02, 2009 (BUSINESS WIRE) — Uruguay Mineral Exploration Inc. (”UME” or the “Company”) (TSX VENTURE:UME) (LSE:UGY), a South American gold production and exploration company, announced today that the signature with Fortune Valley Resources Inc. (”Fortune Valley”) of the definitive agreement to combine their respective businesses has been rescheduled for November 6, 2009, [...]

The two companies decision which have teamed together for the enterprise, comes months after they acquired a majority stake in Spain’s Ence interests in Uruguay including 136.000 hectares forested with eucalyptus and the industrial project to build a cellulose mill in Punta Pereira, along the River Plate, for 344 million US dollars.
According to a top [...]

Controversy arose after a report of a daily in Montevideo said the Environmental Board had denounced that Argentina had “adulterated documents” on environmental analysis that were presented before the international court, currently analyzing the dispute over the construction of the Botnia plant on the Uruguayan side of a jointly managed river.
Argentina filed a complaint before [...]

Oct. 27 (Bloomberg) — Uruguay, Paraguay and Bolivia are in talks with the World Bank for a loan to finance a natural-gas pipeline shared by the three countries, Uruguay’s deputy minister for industries, energy and mining said.
“The World Bank is committed to helping the three countries finance the project,” Minister Roberto Kreimerman, said in an [...]

Julio Cesar Gutierrez from Uruguay, representing the farm Hávarsstadir in Leirársveit in west Iceland, defended his title from last year in the Icelandic Championship in sheep shearing during the farmers’ festival in the Dalir region last weekend.
“Sheep shearing is no magic, it is about knowing the right moves and speed comes with practice,” Gutierrez told [...]

The Uruguayan company has an agreement with Chile’s Sky Cargo and has twice a week nightly flights. Sky cargo provides the logistics and commercial infrastructure. Flights are scheduled to arrive 04:00 in the morning and return to Santiago an hour later.
The team up of the two airlines is based on an open skies agreement between [...]

The Brazilian government published a decree in its Official Journal which exempts the whole beef chain from paying a local tax known as PIS/Pasep and Cofins which represented 9.25% of gross sales on the domestic Brazilian market. The decree becomes effective November 01, 2009.
JBS said that “this exemption represents a very positive move on the [...]

“These consultations are part of Credit Agricole’s drive to refocus its retail banking operations on Europe and the Mediterranean area announced with the capital increase in 2008,” the bank said in a statement.
Credit Uruguay is the third-largest bank in Uruguay’s private sector with 480 employees and 36 branches. It is wholly owned by Credit Agricole, [...]

UPM, Metsäliitto Cooperative, M-real Corporation, and Oy Metsä-Botnia Ab (Botnia) announced Thursday in Helsinki they had signed an agreement according to which Metsäliitto’s and Botnia’s share of the Fray Bentos pulp mill and the eucalyptus plantation forestry company Forestal Oriental in Uruguay will be transferred to UPM.
A letter of intent concerning the restructuring was signed [...]

The contract signed by Uruguay’s government owned oil and gas company Ancap establishes that following the two years exploration and if positive traces have been found and clearly located, an international bid will be called with Schuepbach having preference.
“The minimum exploration program includes the analysis of samples, lutite maturing models and a feasibility study”, said [...]

Uruguay opened a tender for companies to drill 11 blocks of up to 8.000 square kilometres, but only offers for the two most promising blocks were received. Blocks 3 and 4 are 340 and 210 kilometres offshore Punta del Este
“If the government approves the recommendation, the contracts will be signed in about a month,” ANCAP [...]